Dodla Dairy Ltd
P&L
Quarterly Consolidated
vs Q3 FY26
Dodla Dairy FY26 Revenue Up 10.9% YoY to ₹41,252 Mn
16 May 2026 · 16 May, 10:51 pm
Summary
Dodla Dairy Limited announced its Q4 and FY26 audited financial results, achieving its highest-ever quarterly revenue of ₹ 10,745 Mn and yearly revenue of ₹ 41,252 Mn. For the full fiscal year, revenue increased by 10.9% year-on-year, while Profit After Tax (PAT) saw a modest growth of 2.7% to ₹ 2,670 Mn. Despite strong volume growth, the company faced significant margin pressure, with FY26 EBITDA margin at 7.5% and Q4FY26 EBITDA margin at 5.0%, primarily due to persistently high milk procurement costs that were not fully passed on to consumers. Management highlighted a resilient performance amidst challenging market conditions and expressed optimism regarding improving milk supply and the potential for gradual normalization in procurement prices going forward.
Key Highlights
- 1
Dodla Dairy Limited reported its highest-ever quarterly revenue of ₹ 10,745 Mn and yearly revenue of ₹ 41,252 Mn for Q4 and FY26, respectively.
- 2
For FY26, revenue grew by 10.9% year-on-year to ₹ 41,252 Mn, while Profit After Tax (PAT) increased by 2.7% to ₹ 2,670 Mn.
- 3
Q4FY26 witnessed a milk sales volume of 14.0 LLPD, marking a 19.5% year-on-year growth.
- 4
The Africa business delivered a strong revenue growth of 48% year-on-year, driven by a 63% year-on-year increase in milk sales.
- 5
EBITDA for Q4FY26 declined by 35.6% year-on-year to ₹ 538 Mn, with the EBITDA margin contracting to 5.0% from 9.2% in Q4FY25 due to elevated procurement costs.
- 6
The company recorded a one-time tax credit of ₹ 292 Mn during Q4FY26 following a favorable tax ruling, which significantly supported PAT.
- 7
Value-Added Products (VAP) contribution, excluding bulk sales, increased to 28% of total sales in Q4FY26, up from 27% in Q4FY25.
Management Comments
Mr. Dodla Sunil Reddy
I am pleased to share that Dodla Dairy delivered a resilient performance in FY26 despite a challenging operating environment. Milk supply remained constrained for most of the year, while erratic rainfall affected demand for certain value-added products in select markets. For FY26, we recorded revenue growth of 11% year-on-year, with EBITDA margin at 7.5% and PAT margin at 6.5%. Largely, the growth was volume-driven and the margins were under pressure as a result of an increase in procurement costs not being fully passed on to the consumers. Typically, our pricing strategy moves in tandem with industry trends. The milk supply situation is now showing signs of improvement, creating the possibility of a gradual normalization in procurement prices. We see an opportunity for passing on a part of the elevated input costs
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